If only one party promises something, such as paying a certain amount of money, and the other party promises nothing, then the agreement lacks:
A) consideration.
B) competence.
C) legality of purpose.
D) offer and acceptance.

Question

Quizplus · Accepted Answer

Consideration is the mutual exchange of promises or performances that gives each party something of value. In this scenario, only one party is promising to pay a certain amount of money, while the other party is promising nothing. Therefore, there is no mutual exchange of promises, and the agreement lacks consideration.

If Only One Party Promises Something, Such as Paying a Certain